Announcement as per regulation 30 of the SEBI (LODR) Regulations, 2015
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Aspira Pathlab & Diagnostics has filed a writ petition before the Bombay High Court to recover outstanding payments from Brihanmumbai Municipal Corporation (BMC) for diagnostic services provided during the COVID-19 pandemic. The company is seeking a court direction for BMC to clear the dues, provide a payment schedule, and pay interest on delayed payments along with litigation costs. The disputed receivables stand at approximately INR 1.06 crore as of March 31, 2025. The management has stated that based on the facts of the case, there is no material financial impact expected on the company, subject to the outcome of the litigation.
For shareholders, this is a routine recovery action and not expected to have a material financial impact as the amount is small relative to the company. The case may take time to resolve, and any positive outcome could result in recovery of dues plus interest, which would be a minor positive for the company.